(U9) Upside to extend *RES 4:..........>

SCHATZ TECHS: (U9) Upside to extend

*RES 4: 112.450 Range breakout projection

*RES 3: 112.434 Bull channel top drawn off the May 10 low

*RES 2: 112.345 Contract high July 3

*RES 1: 112.335 High Jul 22

*PRICE: 112.330 @ 03:10 GMT July 23

*SUP 1: 112.260 Low Jul 18

*SUP 2: 112.235 Low Jul 16

*SUP 3: 112.220/210 Low Jun 19 and 21 / Low Jul 10 and key support

*SUP 4: 112.188/160 Trendline support drawn off the May 10 low / Low Jun 18

U9 Schatz is bullish and further upside is expected. The rebound in prices that

began off 112.210, the low of Jul 10 resulted in a break of 61.8% of the decline

between Jul 3-Jul 10, at 112.293. This level was an important near-term

resistance and the break reinforces the bullish theme. The focus is on the

contract high of 112.345 where a breach would confirm a resumption of the

uptrend and a range breakout, opening 112.450. Initial support lies at 112.260.